Home Insurance in Spencer, Nebraska
Homes in Spencer carry a median value of $82,500 - 21% lower than the Boyd County median.
The typical home in Spencer was built around 1953. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 67% of homes were built before 1960, about 8 points above Boyd County's 59%.
The housing stock in Spencer is 97% single-family homes and 3% mobile or manufactured homes.
25% of owner-occupied homes in Spencer carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 74% of occupied homes in Spencer are owner-occupied. The vacancy rate is 34%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Homes heated with propane and fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. 42% of homes in Spencer are primarily heated with propane.
What's the biggest home insurance risk near Spencer? FEMA's National Risk Index points to wildfire (Very Low) in Boyd County and Boyd County had 11 active NFIP flood policies as of September 2026. See the full Boyd County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Nebraska carries a statewide average premium of $2,142 per year.
Key figures
| Median home value | $82,500 |
|---|---|
| Median year built | 1953 |
| Owner-occupied share | 74% |
| Share of owner-occupied homes with a mortgage | 25% |
| Top county hazard | Wildfire (Very Low) |
| Active NFIP policies in Boyd County | 11 |
| Home insurance premium | $2,142 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)